Korea’s Target: 200,000 Electric Cars By 2020
South Korea has put a target on electric cars expected to be on its roads by 2020.
That target, 200,000 electric cars, is ambitious, but since it’s driven largely by the government’s push to promote zero-emissions transportation, it might be achievable.
In Late December, the South Korean government formally announced the electric car target, along with plans on how the nation hopes to achieve its goal:
“The Environment Ministry unveiled a package of comprehensive measures to speed up the commercialization of electric cars, which includes a renewal of tax breaks, investment in new technologies, quotas for public agencies, plans to expand charging stations and other incentives for buyers.”
“Under the plan, the government will strive to boost the number of battery-powered cars on the road from the current 800 to 3,000 in 2015 and 200,000 in 2020 and diversify the portfolio to taxis, buses and trucks.”
“To entice more drivers, the existing tax cut of up to 4.2 million won ($3,800) will be extended by 2017, while 25 percent of new vehicles purchased by public institutions must now be electric. Currently 50 percent of their vehicles are required to be city, hybrid and other eco-friendly cars.”
Reports cite South Korea’s lacking public charging infrastructure as a hold back on electric car sales, but the government has plans for charging too. Currently, there are ~200 charging stations in South Korea. That figure will jump to 1,400 by 2020 to support electric car growth.